Golding proposes 3-month NHT loan repayment grace period for public sector workers

Public sector employees will have a three-month window before they begin repayment of loans from the National Housing Trust (NHT) if the People’s National Party (PNP) forms the next government.

National elections are constitutionally due by September.

Further, Opposition Leader and PNP President Mark Golding has proposed to extend the NHT’s debt servicing ratio (DSR) for public sector workers to 40 per cent of their gross salary, up from 33.3 per cent.

Golding made the announcement while making his contribution to the 2025-2026 Budget Debate in Parliament on Tuesday.

NHT borrowers are currently required to commence repayment the month after the loan is disbursed.

“We will give public sector workers a break when it comes to commencing their loan payment…giving them more time to recover from the expenses, buy furniture and get their place ready to move in,” he said.

Golding said a PNP-led government would also establish a special young owners’ deposit fund of $1 billion within the NHT.

The fund would enable young people under age 35 to access $500,000 towards their deposit once they have been a NHT contributor for at least two years, he explained.

“They will be able to apply to the NHT and get their $500,000 deposit grant.”

Golding also reiterated a promise to restore preferred NHT interest rates for public sector workers.

- Livern Barrett

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